Reconciliation Specialist - Operations Risk & Control Dept.
Employment Type : Full-Time
Under limited supervision, uses advanced knowledge and skills obtained through experience and/or training in the securities industry to reconcile various depositories and firm records. Associate will assist the firm in maintaining proper compliance with industry/firm rules and regulations. Collaborates with management and team to identify opportunities for operational efficiency and process improvement to mitigate financial, reputational and regulatory risk. Applies new and changing rules and/or regulations to daily work. Recommends solutions for issues and observations. Extensive contact with other Operations departments in terms of research, identification of issues and escalation of discrepancies. Minimal supervised contact with external auditors/examiners.
Essential Duties and Responsibilities:
- Verify and reconcile domestic and foreign securities held at various depositories
- Ensures reconciliations are accurate, complete and that discrepancies have been resolved in a timely manner
- Performs data collection and analysis to ensure the firm is in compliance with regulatory requirements
- Ensure industry rules, regulations and securities laws are adhered to for 15c3-3 and proper action is taken
- Coordinates/participates in the quarterly examination and verification of physical securities held on premises
- Serves as a back-up in cross-functional responsibilities
- Maintains orderly and readily obtainable records for research and examination purposes
- Creates and maintains appropriate job procedures with management support
- Prepares summary documentation/work papers for special projects/observations with management support
- Evaluates current processes and systems with the purpose of identifying gaps or creating efficiencies and process improvements
- Performs user testing of system enhancements and new software applications for accuracy and usability
- Assists in cross-training of the team in processes to ensure appropriate bench strength
- Escalates observations/issues to Management that require attention in order to mitigate risk
- Performs other duties and responsibilities as assigned
Qualifications
Knowledge, Skills, and Abilities:
Knowledge of:
- Financial markets, products and regulatory requirements
- Fundamental concepts, practices and procedures used in the securities industry
- Back office brokerage operations (processes, terminology, systems)
- General accounting procedures/concepts
Skill in:
- Learning and applying new information, skills and processes quickly
- Performing operational reconciliations
- Evaluating processes and systems with the goal of mitigating risk and creating efficiencies
- Microsoft Office (Word, Excel)
Ability to:
- Demonstrate strong numerical aptitude and use critical thinking when solving operational problems
- Ability to work independently with attention to detail as well as collaboratively within a team environment
- Exhibit initiative and self-direction when performing tasks
- Organize and prioritize multiple tasks with changing priorities in order to meet critical deadlines in a fast paced environment
- Ability to adapt to a constantly changing environment
- Communicate effectively, both orally and in writing
- Provide a high level of customer service
- Establish and maintain effective working relationships
- Retain knowledge and skills utilized during the rotation of functions
- Read, comprehend, and apply technical information
- Use sound judgement to solve problems
Educational/Previous Experience Requirements:
- Associate’s degree in a business related field and a minimum of two (2) years of experience in the areas of cash and securities reconciliation, accounting, banking, and/or financial services industry.
~or~
- Any equivalent combination of education, training and/or experience.
Licenses/Certifications:
Raymond James Guiding Behaviors At Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view.
We expect our associates at all levels to: - Grow professionally and inspire others to do the same
- Work with and through others to achieve desired outcomes
- Make prompt, pragmatic choices and act with the client in mind
- Take ownership and hold themselves and others accountable for delivering results that matter
- Contribute to the continuous evolution of the firm
At Raymond James – we honor, value, respect the uniqueness, experiences, and backgrounds of all of our Associates. When associates bring their best authentic self, our organization, clients and communities thrive, it is part of our part of our people-first culture. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs. Job Operations Primary Location US-FL-St. Petersburg-Saint Petersburg Other Locations US-MI-Southfield-Southfield Organization Operations & Administration Schedule Full-time Shift Day Job Travel Yes, 5 % of the Time